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Published on Nov 11, 2016
What are the chances the firm you work for will be around in five or 10 years?
In our video from JLN’s MarketsWiki Education World of Opportunity Event in London 2016, Steve Grob, director of group strategy with Fidessa, talks about why most businesses will inevitably fail and how to see that coming. For him, most failures come down to an unwillingness to take the blinders off and listen to any outside influences.
“The point I’m trying to make is that so many firms are so engrossed in solving the very short-term, immediate, and short-sighted needs of their customers, that they simply don’t get the big change that is going on.”
Innovation is not so much about eureka moments, rather collaborative efforts of diverse groups over a period of time. Grob gives the example of Encyclopedia Britannica as one to avoid. That institution refused to see that there is more to its product than beautiful, leather-bound books — it was caught addressing very short-term issues and was blindsided by the CD-ROM.